Description of Activities

Description: The Commission resolved to approve without conditions the acquisition by Bima Holdings Ltd of the shares in Minet Namibia Insurance Brokers Proprietary Limited.

Acquiring group: The acquiring group distributes and provides aftermarket support for earthmoving equipment for brands such as Bell Equipment, Liebherr, Maclean, Case IH, and McCloskey.

Target undertaking: The target undertaking is an insurance broker and further provides commercial risk management services, including claims advocacy, capital management solutions, and retirement solutions. 

Relevant market: Defined as the market for the provision of insurance brokerage services.

Merger Determination

The Commission found the proposed transaction unlikely to result in the prevention or substantial lessening of competition or result in any undertaking to acquire or strengthen a dominant position in the market and did not raise any public interest concerns.

However, as stated under section 50 of the Act, this approval does not relieve parties from complying with any other mandatory statutory approvals that any of the parties to this merger must comply with under Namibian laws.